WASHINGTON, D.C. – Nonresidential construction spending inched 0.3 percent lower in July largely due to a significant upward revision to June’s spending figure, according to analysis of U.S. Census Bureau data recently released by Associated Builders and Contractors. Nonresidential spending totaled $701.4 billion on a seasonally adjusted annualized basis in July, the second highest month since November of 2008, right behind June, which was revised upward from $682 billion to $703.5 billion. Public nonresidential spending continued to falter, declining 3.2 percent for the month and 6.5 percent for the year. “A number of factors have suppressed nonresidential construction spending over … Read more